Sears Holdings unsecured creditors will head to bankruptcy court in White Plains, New York on Monday, Feb. 4 to protest Eddie Lampert's $5.2 billion bid to save the company, which owns both Sears department stores and Kmart.

The offer is the only one that would keep Sears alive, but its unsecured creditors allege misdealing by Lampert under his tenure as chairman and CEO.

Judge Robert Drain will hear the objections and rebuttals, and make an ultimate ruling regarding the company's future.

Judge Robert Drain overheard a litany of concerns over a three-day hearing from Sears' unsecured creditors, who pointed to potential flaws in ESL's business plan and its previous failures running the retail giant, in their arguments against the deal.